Why in the foreign exchange quotation of import and export trade, the local currency quotation should be calculated according to the purchase price, while the foreign currency quotation should be calculated according to the selling price? Because when you pay for foreign exchange at the time of import, you have to buy foreign exchange from the bank, and when you export, you have to collect foreign exchange and sell it to the bank.

First, the foreign exchange quotation is the listed exchange rate, that is, the quotation provided by any foreign exchange institution when you face it. The buying price of foreign exchange is the price at which foreign exchange you hold is converted into RMB from the bank, such as 1 USD =6.2309 RMB, and the selling price is the price at which you buy foreign exchange from the bank with RMB, such as 6.2432 RMB 1 USD.

At 9 o'clock every morning, the State Administration of Foreign Exchange announces the middle price, which is the guiding price of the bank's foreign exchange quotation. At present, SAFE only has restrictive regulations on the buying price and selling price of US dollars listed in banks, that is, the difference between the highest selling price and the lowest buying price on that day shall not exceed 1% of the middle price announced by SAFE, regardless of other currencies. So as long as the bank stays within this range, the price will be set by itself.

Second, due to BOC's status as a foreign exchange bank, it has sufficient positions and large settlement volume, and the general exchange rate is the cheapest for BOC. Different banks have different foreign exchange management methods. Some banks' exchange rates are adjusted with the market every hour, while others remain unchanged for one day. If it is a large foreign exchange transaction, banks will not always have so many positions, usually real-time flat trading. For example, if you want $6,543,800,000 in foreign exchange, the bank actually doesn't have $6,543,800,000. He will now buy $6.5438 billion through the market and sell it to you on the basis of the market price he bought.

Third, the exchange rate quotation is divided into cash and cash, as well as the buying price and selling price, as well as the exchange price of the Bank of China, and these prices are different. And if we find that there is only one exchange rate online when converting, it is likely to be only the middle price or the converted price. The bid price refers to the exchange rate used by banks to buy foreign exchange from peers or customers. The selling price is the same as the direct quotation. The front is the buying price, followed by the introduction of the selling price, followed by the selling price. Under indirect pricing method, forward exchange rate = spot exchange rate-premium = spot exchange rate+discount.